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Showing posts with the label 회계분류

Understanding Dual Contributions: Korean National Pension vs. U.S. FICA

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Understanding Dual Contributions: Korean National Pension vs. U.S. FICA Navigating social security systems across borders can be confusing—especially for employees working between Korea and the U.S. A recurring question is: Can someone pay into both Korea’s National Pension and U.S. FICA (Social Security and Medicare taxes) at the same time—and what happens if they do? This post breaks down how the Korea–U.S. Totalization Agreement works, what “coverage” means, and the consequences of dual contributions. 1. The Totalization Agreement at a Glance 🇰🇷🇺🇸 Since 2001, the Korea–U.S. Totalization Agreement has coordinated social security coverage between the two countries. Its primary goal is to: Prevent double taxation of social security contributions on the same income during the same time period Protect future benefit rights for cross-border workers Key principles: At any given time, only one country’s social security system applies to your wages C...
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Bookkeeping Categorization/ 회계 분류

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Mastering  Bookkeeping Categorization : The Foundation of Financial Clarity Whether you're running a startup, managing freelance income, or just trying to keep your side hustle organized, one of the most overlooked—but absolutely critical—parts of financial management is bookkeeping categorization . Properly categorizing your financial transactions is more than a clerical task—it's the key to informed decision-making, tax compliance, and business growth. What Is Bookkeeping Categorization? At its core, bookkeeping categorization involves labeling each transaction (income, expense, asset, liability, or equity) so it fits into a well-defined chart of accounts. These categories help paint a clear picture of your financial health, ensure accurate reporting, and simplify tax time. Example: Date Description Amount Category 2025-05-03 Shopify Sales $1,200 Income 2025-05-05 Google Ads $300 Advertising 2025-05-07 MacBook Purchase $2,000 Equipment Why Is It Important? 1. Tax Deduc...
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